Israeli Diamond Exchange Opts for Cryptocurrency
Israel’s Diamond Exchange announced on Wednesday that it plans to adopt cryptocurrency in a bid to boost trade and make transactions more efficient and transparent, AFP reported.
The launch of the cryptocurrency, dubbed Carat, is slated for May; it is designed for investors and the general public.
A separate one, called Cut, is starting up this week for use between dealers in a market that has often been considered opaque.
Blockchain technology — essentially a digitized ledger — will be used for the cryptocurrencies.
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